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Kevin O\u2019Leary, President of Leary Ventures and Beanstox<\/b>, made his fortune in the consumer software industry. He has also built a strong reputation as an avid collector of high-end timepieces.<\/p>\n
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In 2024, he conceived the idea of launching the first insurance company designed for watch collectors<\/b>.<\/p>\n
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Two years after its launch,WonderCare<\/b>\u2014as it is called\u2014has just scored another major coup by becoming thepartner for Phillips\u2019 New York Session Spring 2026 online auction<\/b>, the epicenter of prestigious watch auctions since 2015.<\/p>\n
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The latest Phillips New York Sessions once again highlighted independent manufacturing, mechanical complexity, and provenance over mere brand recognition.<\/strong> The star lot<\/b> of this spring edition, an F.P. Journe<\/b> Centigraphe Souverain, with an estimate ranging from $80,000 to $160,000, sold for $355,600<\/b>\u2014more than double its high estimate. Meanwhile, an F.P. Journe Automatique Lune Havana sold for $190,500, while an Audemars Piguet Royal Oak Perpetual Calendar went under the hammer for $139,700, placing them in second and third place on the podium, respectively.<\/p>\n <\/p>\n The auction house and private sales firm<\/b> chose this occasion to partner with Wondercare real-time insurance coverage,<\/b> which offers a streamlined process for collectors<\/b> wishing to protect their new acquisitions. Its implementation draws on the expertise of Bacs & Russo.<\/p>\n <\/p>\n Integrated into the Phillips experience, WonderCare already allows U.S. buyers to access real-time quotes<\/b>, digital policy management<\/b>, and global coverage<\/b>, all backed by the Chubb insurance and reinsurance consortium.<\/p>\n <\/p>\n Thus, Kevin O\u2019Leary\u2019s latest venture aims to modernize the collecting experience<\/b>. On one hand, this new offering allows Phillips to add a service-oriented feature<\/b> to its shopping experience. On the other, WonderCare can position itself at a key moment in the product lifecycle to remove barriers: the acquisition phase.<\/b><\/p>\n <\/p>\n On its website, the platform presents itself as comprehensive insurance<\/b> tailored to the evolving needs of luxury clients. It offers protection against loss, theft, or damage with no deductible<\/b>, unlike traditional home insurance policies limited to $5,000 or less.<\/p>\n <\/p>\n <\/p>\n Buying the watch of your dreams at auction has never been a problem<\/b>, provided you have the necessary funds. Insuring it, however, is a much more complex matter.<\/p>\n <\/p>\n This is particularly ironic in an increasingly uncertain world, where beautiful watches attract covetous eyes and where social media makes their wearers easy targets<\/b>\u2014both at home and out on the street.<\/p>\n <\/p>\n A study by the Franco-Swiss startup Grace published in late 2025<\/b> cited fear of theft, loss, and damage<\/b> as the main barrier to purchasing a luxury item<\/b> (51% of respondents).<\/p>\n <\/p>\n A avid collector, Kevin O’Leary<\/b> learned this the hard way. Like many, he had added riders to his home insurance policy covering watches, jewelry, and works of art.<\/p>\n <\/p>\n The year following a theft, he discovered that his home insurance premium had skyrocketed<\/b>, even though only watches had been stolen and the property had suffered no substantial damage.<\/p>\n <\/p>\n He then pinpointed a widespread problem<\/b> that the industry had never addressed until now: why is it that when a collectible is stolen, its value depreciates when it should be the opposite?<\/b><\/p>\n <\/p>\n \u201cMost home insurance policies<\/b>\u2014or a significant number of them\u2014provide for a depreciation in the value of the insured item<\/b>. In the case of a watch<\/b> like a Rolex Daytona, the price should appreciate year after year<\/b>. Yet, you won\u2019t be able to replace it if you lose it in five or ten years, nor if it\u2019s stolen the very day after purchase.\u201d<\/p>\n <\/p>\n With 8 million followers across all his platforms, the businessman wanted to raise awareness among his audience and see if there was a business opportunity there. The results were immediate:of the 800 inquiries he expected from his 15-second sponsored ad, he received\u2026 3,500!<\/b><\/p>\n <\/p>\n Thus, after three years of development, WonderCare was launched in 2024.<\/b><\/p>\n <\/p>\n Its concept is to allow watch collectors to insure part of their collections for an annual cost of 1.7% to 2.1% of the watch\u2019s value.<\/b><\/p>\n <\/p>\n \u201cWe stand out by focusing first and foremost on the end-to-end experience of watch enthusiasts, andwe are expanding into other luxury assets such as fine jewelry, designer handbags, art, and collectibles.<\/b>\u201d explains its website.<\/p>\n <\/p>\n As the founder likes to repeat, his insurance only makes sense for owners who don\u2019t keep their watches in a safe and who travel frequently.<\/b><\/p>\n <\/p>\nA response to a pressing need<\/h3>\n